Idaho is growing as a result of the recession affecting West Coast states, Standard & Poor's Corp. said yesterday in a credit comment.
Almost one-third of Idaho's newcomers are from California, according to a recent U.S. Census Bureau report. And state sources show that more than 10% are from the Puget Sound area, Standard & Poor's noted.
Idaho's cities are registering much of the economic expansion, Standard & Poor's said. In 1992, Boise led all U.S. cities with 6% job growth. By contrast, many rural areas in Idaho have experienced population and job losses, largely due to timber and mining declines.
Idaho's appeal reflects a favorable and supportive business climate, affordable housing, good schools, a natural environment, and a high quality of life, Standard & Poor's said.
Nevertheless, the state's growth "will not continue at its current pace indefinitely," the rating agency said.
Given the experience of other states that have registered rapid growth -- only to be followed by painful adjustments -- Standard & Poor's suggested Idaho would do well to learn from its Western neighbors, particularly in regard to "the importance of measured growth and industry diversity."